Cat Coin, Shibarium Token Pumping on Uniswap - Are They Scams? Best Meme Coin Alternatives
A BNB blockchain-based meme coin called Cat (CAT) is has pumped up over 100% on Wednesday, while another meme coin called Shibarium Token (SHIBARIUM) is up over 130%.
The former’s latest rally has pushed its market cap back to the north of $1 million, with over $2.5 million in trading volumes coming in in the last 24 hours alone.
CAT now has nearly 12,000 holders, impressive stuff.
However, while DEXTools’ GoPlus security audit identifies no issues with the token’s smart contract, the more than $300,000 in DEX liquidity is not locked, meaning CAT could still end up being a rug pull.
SHIBARIUM, meanwhile, last had a market cap of close to $1 million, but could be a scam.
The token’s website tries to falsely imply that it is in some way associated with the Shiba Inu ecosystem, which is about to launch the official public version of its Shibarium Ethereum layer-2 scaling protocol.
But Shiba Inu hasn’t launched a coin called Shibarium – the token appears to be a fake trying to benefit from the hype of the Shibarium launch.
That means that buyers of this token should exercise extreme caution that the token is just an attempted rug pull.
Indeed, the $300,000 in DEX liquidity isn’t locked, and could pulled at any moment.
DEXTools’ GoPlus security audit also reveals the token’s issuer could pause transfers at any moment.
Buy SHIBARIUM at your own peril.
Two recently launched coins called BTC20 and Shibie could present a much better risk-reward opportunity for traders, thanks to their compelling value propositions, and given the strong likelihood that they aren’t scams.
BTC20 is Bitcoin “reborn” on the Ethereum blockchain, with the exact same tokenomics, but with the clock wound back to April 2011, when Bitcoin briefly hit $1 per token.
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